This document discusses recruitment and selection at SBI Life insurance. It provides background on the life insurance industry and SBI Life's vision, values, and achievements in 2013-2014. Recruitment involves locating and attracting individuals for job vacancies, while selection eliminates candidates who do not have the required skills. The findings note that Indians prefer LIC and internal references when applying to SBI Life. The conclusion states that insurance faces high attrition, making recruitment critical, and innovations are needed for organizations to sustain in competition.

1. RECRUITEMENT
AND SELECTION
IN
Diksha Garg
Roll no. 123007
MBA(HR) 3rd sem

2. About the industry

3. INSURANCE
• It is a system by which the losses suffered by
a few are spread over many, exposed to
similar risks.
• Insurance is a protection against financial
loss arising on the happening of an
unexpected event.
• It is essential that :
– The calamity is either natural or unexpected
– The insured person does not gain out of this
arrangement

4.  Life insurance is a written contract
between the insured and the insurer,
that provides for the payment of the
insured sum on the date of the
maturity of the contract or on the
unfortunate death of the insured,
whichever occurs earlier.

5. Life
Insurance
The Empowerment Story

6. Life Insurance Milestones
• 1818 - Oriental Insurance Company set up in Calcutta
• 1912 - The Indian Life Assurance Companies Act
enacted - first statute
• 1928 - The Indian Insurance Companies Act enacted
to enable the government to collect statistical
information about both life and non-life insurance
businesses.
• 1938 - Passing of the Insurance Act
• 1956 - Nationalisation of life insurance companies and
formation of LIC
• 1956-1999 - Monopoly of LIC for nearly 44 years
• 1999 - Privatisation initiated

7. The Insurance Players
 Life Insurance Corporation of India (LIC)
 SBI Life Insurance
 Birla Sunlife Insurance
 Reliance Life Insurance (RLIC)
 ICICI Prudential Life Insurance
 Bajaj Allianz Life Insurance
 Max Life Insurance
 HDFC Standard Life Insurance

8. Life insurers: Market share
Market share
LIC, 50%
MET , 1%
TATA, 2%
MAX, 3%
BIRLA, 4%
OTHERS, 8%
ICICI, 10%
SBI,
5%
RELIANCE, 5%
BAJAJ, 4%
HDFC,
6%
KOTAK, 2%
LIC
ICICI
SBI
BAJAJ
OTHERS
RELIANCE
HDFC
BIRLA
MAX
TATA
MET
KOTAK

10. 74% Stake 26% Stake
IRDA Registration no. 111
issued on
29th March 2001

11. SBG – State Bank of India
State Bank of India (SBI) is a multinational banking and financial services company based
in India
It is a government-owned corporation with its headquarters in Mumbai, Maharashtra
As of December 2013, it had assets of US$388 billion*
SBI has 14 regional hubs and 57 Zonal Offices located at important cities throughout India*
SBI had 17,000 branches in India, as on December 2013*
As on 30th September 2013, the 5 ABs have a combined network of 5685 branches in India **
As of 28 June 2013, the bank had 190 overseas offices spread over 34 countries*
State Bank (SBI + Associate Banks) offers you the convenience of 43,000+ ATMs in India **

12. About BNP Paribas Cardif
Founded 40 years ago, the insurance subsidiary of BNP Paribas has
become a global specialist in personal and property insurance, with a
presence in 37 countries across Europe, Asia and Latin America.
Open Human
Centric Sustainable
Strong Asset
for the Group
40 Years of
existence
Present in
37 countries
90 million
clients insured

14. SBI Life – Vision & Mission
VISION
"To be the most trusted and preferred life insurance provider "
MISSION
"To emerge as the leading company offering a comprehensive
range of life insurance and pension products at competitive prices,
ensuring high standards of customer satisfaction and world class
operating efficiency, and become a model life insurance company
in India in the post liberalization period"

15. SBI Life – Values
TruEIDnAVsxytncmawneolbaolvulmireattentihioiscisonnmeness

16. Year
2013-14
SBI Life – Pride Pointers (2013 - 2014)
 Posted a record profit of Rs. 740 crore, during the financial year
ending March 31, 2014, an increase of 19% over the last financial
year
 Ranked number 1 amongst the private life insurers, in New
Business Premium (NBP), for the financial year 2013-14
 SBI Life’s regular new business premium increased by 14.5%, to
Rs. 2,998 crore during the financial year 2013 - 14, from Rs.
2,618 crore in FY 2012 - 13
 Individual new business premium APE grew by 17.7% to Rs.
2,809 crore during financial year 2013-14, from Rs. 2,387 crore
during FY 2012 - 13
Authorized Capital of Rs. 2,000 Crores
Paid Up Capital of Rs 1,000 Crores

17. Year
2013-14
SBI Life – Pride Pointers (2013 - 2014)
 Market share through individual business has increased to 16.8%
for the financial year 2013 – 14, from 13.8% during the last
financial year
 SBI Life has garnered a new business market share of 17.2%
amongst private players for the financial year 2013 - 14
 AUM has grown by 12.7%, to Rs. 58,480 crore as on March 31,
2014 from Rs. 51,912 crore as on March 31, 2013
 SBI Life leveraged its wider reach through its 762 branches
network
Authorized Capital of Rs. 2,000 Crores
Paid Up Capital of Rs 1,000 Crores

18. SBI Life – Awards in 2013- 2014
 ‘Most Trusted Private Life Insurance Brand 2013’ by The
Economic Times, Brand Equity and Nielsen Survey
 ‘Best Life Insurance Provider 2013 – Runner’ Up by Outlook
Money.
 ‘Global Performance Excellence Award 2013’ by Asia Pacific
Quality Organisation (APQO)
Year
2013-14
 ‘Digital Inclusion Skoch Awards 2013’
.
 ‘Communication Excellence Award 2013 at 4th CMO Asia
Awards’

19. Recruitment And Selection
“Recruitment is the process by which
organizations locate and attract
individuals to fill job vacancies”.
“Selection is the negative process and
involves the elimination of candidates
who do not have the required skills
and qualification for the job proposed”.

20. Recruitement And Selection In
Sbi Life
Interview section
Training
Examination and code

21. FINDINGS
People view life insurance as more
protection of human asset value against
uncertainity.
People prefer internel reference while
applying for sbi life
People of india believe upon the LIC only
as LIC created a very well image in the
mind of general public.
Life insurance is a growing concern and
will grow at rapid pace in future.

22. Suggestions
 Compress the "white space" in
your hiring process.
 Tie up with more & more consultants from
multiple segments
 Know what you're looking for in
candidates.
 Reduce the pre offer formalities
 Blend technology into every aspect of your
recruiting and hiring process

23. conclusion
Insurance is confronted with high attrition
rate. Therefore it makes recruitment a
critical function in the organization. In
order to grow and sustain in the
competitive environment, it is important
for an organization to continuously
develop and bring out innovations in all it
activities. It is only when organization is
recognized for its quality that it can build a
stability with its customers. Thus an
organization must be able to stand out in
the crowd.